EU stock exchanges in red, Bper, Intesa and Unicredit drop in Milan
Closing down for the Milan Stock Exchange, weighed down by a new wave of sell-offs in the banking sector. The Ftse Mib index finished the session down by 0.54% at 27,107 points. Fears about the health of the credit sector were rekindled by the new collapse of First Republic Bankwhich on Wall Street yields more than 16%.
In the first three months of the year, the bank based in San Francisco recorded the flight of more than 100 billion dollars in deposits, withdrawn by customers in fear of a crack. Further caution was added by expectations for the data on US GDP in the first quarter, which will be released tomorrow, and by that for the meetings of the Fed and the ECB next week.
Leading the decline in the main index was Bper, which lost 6.77%. Banco Bpm (-5.29%) and Banca Mps (-4.93%) are also very heavy. The losses of Intesa Sanpaolo (-1.30%) and Unicredit (-2.00%) were more contained. Among industrialists, Prysmian was weak (-3.15%). On the other hand, the Tim share recovered, recovering 1.62%. The oil markets were solid, with Tenaris up 1.50% and Eni up 0.97%. Purchases also on Amplifon (+1.24%) and Hera (+1.05%).
On the market the euro returned above 1.10 dollars, close to the highest levels for a year, helped by investors’ choice to cover themselves in view of the new upward adjustment of rates at the ECB’s executive meeting next Thursday. The single currency is traded at 1.1037 dollars (+0.61%) and 147.37 yen (+0.49%). The greenback fell to 133.55 (-0.10%) against the Japanese currency.
Lo spread between 10-year BTPs and equivalent German Bunds, which in the morning had gone up to 191 points, was positioned at the end of the day at an altitude of 187 points, slightly narrowing compared to the 189 of the day before. The yield on Italian securities stood at 4.266%. The Treasury today placed BOTs for a total of 6 billion, with the six-month rate jumping to the highest level since November 2011.
In particular, savers have absorbed 3.5 billion 6-month bonds since the reopening of the security on 31/03/2023, at a weighted average rate of 3.329%, up by 25 basis points compared to that of the previous auction. Also assigned 2.5 billion annual BOTs, from the reopening of the security on 02/14/2023, at a weighted average yield of 3.430%.
Subscribe to the newsletter